Archive for November, 2008
Monday, November 3rd, 2008
Agency spreads are unchanged in the 2 year sector and wider by 3 basis points in the 5 year sector and wider by 5 basis points in the 10 year sector. The level of customer activity was very light.One trader said that the prospect of a Freddie Mac benchmark announcement ...
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Monday, November 3rd, 2008
The corporate bond market has a pacific and placid feel about it today and conversations with veteran salespeople reveals that the market is slightly firmer, on balance, and seemingly a gradual improvement is underway.However, I would offer an alternate view that the market is still broken and dysfunctional.
I was not ...
Posted in Uncategorized | 7 Comments »
Monday, November 3rd, 2008
Swap spreads are wider by a basis point in the 2 year sector at 122 basis points. Five year swaps have widened 2 basis points to 106 basis points and ten year spreads are wider by 2 basis points at 51 basis points. In the 30 year sector spreads have ...
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Monday, November 3rd, 2008
The Treasury market opened with a firm tone this morning which is fading a bit as stocks continue their irrational exuberance. In a few minutes there is an expectation of a friendly ISM which while pretty much anticipated is illustrative of pandemic economic weakness. There are also rumors floating around ...
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Monday, November 3rd, 2008
* MBS 9 BETTER VS RATES - SEEING BETTER FAST MONEY AND MONEY
MANAGER BUYING - NO ORIGINATION SELLING
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Monday, November 3rd, 2008
The IG 11 is opening 198/202. The last level I observed on Friday was around 203.
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Monday, November 3rd, 2008
Libor US$ Fixing
11/03 10/31 Change
OVERNIGHT .38750 .40625 -.01875
1 WEEK 1.04375 1.31875 -.27500
2 WEEKS 1.45000 1.67500 -.22500
1 MONTH 2.35750 2.58125 -.22375
2 MONTH 2.76000 2.96625 -.20625
3 MONTH 2.85875 3.02625 -.16750
4 MONTH 2.93500 3.06000 -.12500
5 MONTH 3.01250 3.08750 -.07500
6 MONTH 3.08500 3.12125 -.03625
9 MONTH 3.14000 3.15563 -.01563
12 MONTH 3.20750 3.17375 .03375
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Monday, November 3rd, 2008
*THREE-MONTH DOLLAR LIBOR 2.86% VERSUS 3.03%, BBA SAYS
*OVERNIGHT DOLLAR LIBOR 0.39% VERSUS 0.41%, BBA SAYS
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Monday, November 3rd, 2008
Prices of Treasury coupon securities have taken a random walk in overseas trading. The yield on the benchmark 2 year note is unchanged at 1.56 percent. The yields on the 5 year note and the 10 year note have declined by 2 basis points to 2.81 percent and 3.95 percent, ...
Posted in Uncategorized | Comments Off on Some Early Thoughts November 3 2008